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Question 1 of 3
1. Question
Used Car “Retail” Dealers must have a Surety Bond valued at:
CorrectIncorrectHint
All Dealers must have a Surety Bond valued on their license type and provide proof:
- OL 25 New or Used Auto-Commercial Dealer ($50,000)
- OL 25B Motorcycle Dealer, Motorcycle Lessor-Retailer, All-Terrain Vehicle Dealer, or Wholesale-Only Dealer (Less Than 25 Vehicles Per Year) $10,000
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Question 2 of 3
2. Question
Dealers must now renew their License online yearly (a two-year term is optional, later) and upload:
- Proof of Continuing Education (every two years)
- Proof of Surety Bond
- Payment of Renewal Fees
CorrectIncorrectHint
Dealers complete their renewals online and upload:
- Proof of Continuing Education (every two years)
- Proof of Surety Bond
- Payment of Renewal Fees
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Question 3 of 3
3. Question
A Dealer’s License and Special Plate are automatically canceled when:
- the Dealer abandons their place of business without giving proper, immediate notice to the DMV
- the Dealer fails to maintain an adequate Surety Bond
- the person designated as the Dealer has changed -or- the Corporate status of the Dealer is suspended or revoked
- the Board of Equalization suspends or revokes the Dealer’s Seller’s Permit
CorrectIncorrectHint
A Dealer’s License and Special Plate are automatically canceled when:
- The Dealer abandons their place of business without giving proper, immediate notice to the DMV
- The Dealer fails to maintain an adequate Surety Bond
- The person designated as the Dealer has changed -or- the Corporate status of the Dealer is suspended or revoked
- The Board of Equalization suspends or revokes the Dealer’s Seller’s Permit